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Socialite raising money to repay fraud victims

Associated Press
June 18, 2012
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A New York socialite has raised more than half of the $7 million a court ordered her to repay after she pleaded guilty to duping an Indiana company and other corporations out of millions of dollars.

Dina Wein Reis, a well-known art collector in New York social circles, has raised about $4.4 million and expects to raise the remainder by December, according to documents filed this month in federal court in Indianapolis.

Prosecutors said the 48-year-old swindled companies in Indiana, Missouri, New Jersey, Kentucky and possibly other states. A judge in 2011 ordered Reis to pay restitution and other financial penalties as part of a plea agreement on charges of conspiracy to commit wire fraud. Indiana victims included Roche Diagnostics Corp., DowBrands and Clabber Girl Corp., according to court records.

Reis is raising the money in part by selling her art collection at Sotheby's in New York, according to the recent court documents. She had been released on her own recognizance so she could raise the required funds, but her attorney said that would take time.

"This is a bad economy. It's difficult and it takes time to raise any large amount of money," attorney J. Richard Kiefer said Monday.

Reis was accused of wining and dining corporate CEOS at her luxurious brownstone under the guise of a company looking for a new top executive. Then they were asked to provide discounted goods for distribution by a nonexistent network that supposedly provided products for use as samples at retail outlets or promotional packages for senior living communities and other special groups.

Instead, prosecutors said, Reis sold the goods for profit. Some of Reis' employees who also were charged were alleged to have assisted in the scheme.

A date for Reis' sentencing hasn't been set. According to court documents, Reis is requesting that the hearing be held in mid-December, after she has raised the money.

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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